Interra Realty recently brokered the sale of a 12-unit apartment building in Chicago’s Buena Park neighborhood for $3.25 million, with each unit selling for an impressive $270,833. The vintage greystone property was built in 1896 and underwent renovations in 2014 before being fully occupied at the time of sale.
The buyer, Drexel Properties, is a repeat client of Interra and was represented by Senior Managing Partner Joe Smazal along with Managing Partners Patrick Kennelly and Paul Waterloo. The seller was a private investor also represented by Smazal, Kennelly, and Waterloo.
According to Smazal, the high price per unit can be attributed to the property’s prime location near Wrigley Field as well as its recent renovations and full occupancy. This boutique apartment building features four three-bedroom duplex units along with two two-bedroom units and six one-bedroom units.
For more information on this successful transaction or to register for Connect Industrial Midwest 2024 taking place on March 5th at Joe’s Live in Rosemont Illinois click here.
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